Shares of Tata Motors slipped 2 percent in the early trade on March 25 as the company said it is going to increase the prices of its passenger vehicles from April.
Tata Motors said it will increase prices of its passenger vehicles range by up to Rs 25,000 from April on account of rising input costs and external economic conditions.
The company joins the likes of Toyota and Jaguar Land Rover that have also stated that they would hike prices of select models from April.
"The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase," Tata Motors President, Passenger Vehicle Business Unit Mayank Pareek said in a statement.
Tata Motors currently sells a range of passenger vehicles starting from the Nano to premium SUV Hexa priced between Rs 2.36 lakh and Rs 18.37 lakh.
At 0928 hours, Tata Motors was quoting at Rs 173, down Rs 2.40, or 1.37 percent on the BSE.
(With inputs from PTI) First Published on Mar 25, 2019 09:40 am
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